Central Scheme to provide Interest Subsidy for the period of moratorium on educational loans taken by students from economically weaker sections from schedule banks under the educational loan scheme of the Indian Banks Association.
The Central Scheme to provide interest Subsidy (CSIS) for the period of moratorium on educational loans taken by students from economically weaker sections from schedule banks under the educational loan scheme of the Indian Banks’ Association (IBA) was circulated by this Ministry to all scheduled member banks of the IBA vide this Ministry’s letter of even number dated, a copy of which is also available on this Ministry’s website at The Scheme is based solely on income criteria and not social background. Modalities of implementation of the Scheme of Interest Subsidy are inbuilt in the Scheme as circulated by this Ministry vide its letter of even number dated .
A copy of the presentation made by Canara Bank is enclosed. For further details and related issues regarding procedure for implementation of the interest loan subsidy scheme and reimbursement of claims under the Scheme as well as monitoring of the Scheme, you are requested to kindly contact Shri G.M Narsareddy, General Manager or Shri M.A Nayagam, Asstt General Manager. Canara Bank, Head office, 112, Jayachanarajendra Road, Bangalore- 560 002.
As regards the issue of the list of recognised/approved courses/institutions to Banks it is clarified that a fresh list is not necessary since the banks are already sanctioning education loans through the IBA education loan Scheme. Banks may follow the list maintained by them under the IBA Loan Scheme and in case of doubt the Association of Indian Universities or MHRD could be approached.
